G - Institutional arbitration in ADGM
e. Institutional arbitration in ADGM
Institutional Arbitration in Abu Dhabi Global Market
1. Almost one year after the promulgation of ADGM arbitration Regulation 2015 which leads to the adoption of an advanced UNCITRAL based law rules, the expected implementation of a consecutive institutional arbitration subsystem in ADGM is still under assessment.
2. Since the launch of Abu Dhabi Conciliation and Commercial Arbitration Center (ADCCAC) in 1993, the new arbitral system expected to be revealed by ADGM is the most important event in the local history of the institutional arbitration.
3. A real dilemma appears regarding the options to opt for a sui generis context characterized by the interference - according to the legal issues to be tackled - varying from prolific options to very limited possibilities.
4. An out of the box global approach seems to be more than an intellectual luxury. It is a pressing necessity to move ahead to match the needs of the vision Abu Dhabi 2030 and its correlative imperatives of post oil economic mid-term strategies driven by an ambitious diversification plan.